The Number of Investors in Cryptocurrencies Over 65 Increased — BTC Markets
Australian cryptocurrency exchange BTC Markets reported that over the past year the number of investors in cryptocurrencies over 65 has increased by 15%.
In its annual report to investors, the exchange noted that at the moment baby boomers (people born between 1946 and 1964) make up approximately 5% of the platform’s 325,000 customers. They also make the largest deposits.
Now more than a quarter of the exchange’s clients are investors over 44 years old. Among investors over 65, the highest average initial deposit was $3,200 and the average crypto portfolio size was $3,700.
As stated by BTC Markets CEO Caroline Bowler, many baby boomers have amassed significant fortune and assets over their lives and have years of experience investing in the financial markets. Therefore, they do not worry about setting aside a small percentage of their savings in order to invest in cryptocurrencies.
In comparison, traders between the ages of 18 and 24 had much smaller initial deposits and portfolios compared to the older generation.
To find out the motives for investing in cryptocurrency, the exchange surveyed 1,800 customers. As it turned out, 34% of those surveyed sought early retirement, 28% diversified their portfolio and 23% were afraid to miss the opportunity (FOMO).